LONDON—The U.S. dollar fell for a fourth consecutive day on Friday to its lowest in more than two months as investors took the view that most of the recent hawkishness from the U.S. central bank has already been priced in. On Friday, the greenback slipped 0.2 percent to 94.62 against a basket of currencies, its…
Wall Street Opens Higher as Producer Prices Data Eases Rate Hike Fears
Wall Street’s main indexes opened higher on Thursday after weaker-than-expected producer prices data eased concerns about a faster pace of interest rate hikes from the Federal Reserve, while Delta Air Lines led gains among carriers on strong earnings. The Dow Jones Industrial Average rose 22.17 points, or 0.06 percent, at the open to 36,312.49. The…
Dollar Extends Losses, Euro Rallies as Traders Reassess Rate Hike Bets
LONDON—The dollar fell further on Thursday to two-month lows after U.S. inflation proved weaker than feared in December, prompting investors to cut crowded long positions in the currency. The euro was a big beneficiary of the move and extended its rise to as high as $1.1479, up 0.3 percent on the day, while sterling and…
World Stocks Retreat as Inflation Augurs Fed Rate Hikes
BANGKOK—Shares were mostly lower in Asia on Thursday after the latest report of surging prices in the U.S. appeared to keep the Federal Reserve on track to raise interest rates in the coming months. London, Paris, Tokyo, and Shanghai were lower while Sydney and Hong Kong advanced. Surging coronavirus cases have been raising uncertainty about…
Fed’s Mester Would Back March Rate Hike to Fight Inflation
The Federal Reserve may need to raise interest rates at least three times this year and begin running down its balance sheet to respond to a tight labor market and inflation that is persistently high and more broad-based, Cleveland Fed President Loretta Mester said on Tuesday. “If the economy in March looks like it does…
Global Stocks Mixed After Wall Street Falls on Rate Hike Worries
BEIJING—Global shares were mixed Monday after Wall Street fell on worries the Federal Reserve will raise interest rates as soon as March. Frankfurt and Shanghai advanced. Wall Street futures were higher. Seoul declined while London was little-changed. Japanese markets were closed for a holiday. Investors were rattled last week after notes from the latest Fed…
Mortgage Rates Tick up but Remain Low in Final Days of 2021
SILVER SPRING, Md.—Average long-term U.S. mortgage rates moved slightly higher in the final week of 2021. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark, 30-year home loan ticked up to 3.11 percent this week from 3.05 percent last week. A year ago, the 30-year rate stood at 2.67 percent. The…
BoC to Maintain Inflation Mandate, Will Consider Job Market in Rate Decisions
OTTAWA—Canada’s central bank has been told to keep the annual pace of price gains at its historic target, but also to help build up the labour market. Since 1991, the Bank of Canada has targeted an annual inflation rate of between one and three percent, often landing in a sweet spot at two percent. That…
BoE’s Pill Sees Growing Case for December Rate Rise, but No Guarantee
November 19, 2021
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BRISTOL, England—Bank of England chief economist Huw Pill said the weight of evidence was shifting towards a rise in interest rates next month but that he had not made a decision, and markets would do better to focus on the longer term. Speaking to reporters at an economics conference in Bristol, Pill also cautioned against…
Dollar Near 16-Month High Versus Euro Ahead of US Retail Sales Data
November 16, 2021
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LONDON—The dollar held just below a 16-month high versus the euro on Tuesday, while the yuan reached its strongest in more than five months as markets welcomed dialogue between the U.S. President and Chinese leader. U.S. President Joe Biden and Chinese leader Xi Jinping stressed their responsibility to the world to avoid conflict, in talks…
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